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Starwood Capital
Starwood Capital Group is an investment firm headquartered in Miami Beach, Florida. It is managed by Barry Sternlicht. It was co-founded by Sternlicht and Robert Faith in 1991. In 1993, Faith left Starwood to found Greystar Real Estate Partners. History In 1991, at the age of 31, Sternlicht launched the firm to buy apartment buildings that were being sold by the Resolution Trust Corporation, created by the federal government to hold and liquidate the real estate assets owned by failed banks after the savings and loan crisis. Sternlicht raised $20 million from the families of William Bernard Ziff Jr. and Carter Burden of New York to fund these purchases. In 1993, the company contributed the apartment portfolio to Sam Zell's Equity Residential in exchange for a 20% stake in the company. In 1994, in partnership with Goldman Sachs, the company purchased Westin Hotels & Resorts in a $561 million transaction. In January 1995, Starwood purchased Hotel Investors Trust, an almost-bankr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity
In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a type of ownership of assets ( financial equity) and is a class of assets (debt securities and equity securities), which function as modes of financial management for operating private companies that are not publicly traded in a stock exchange. Private-equity capital is invested into a target company either by an investment management company (private equity firm), or by a venture capital fund, or by an angel investor; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Each category of investor provides working capital to the target company to finance the expansion of the company with the development of new products and services, the restructuring ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goldman Sachs
Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, Dallas and Salt Lake City, and additional offices in other international financial centers. Goldman Sachs is the second largest investment bank in the world by revenue and is ranked 57th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important financial institution by the Financial Stability Board. The company has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. federal government via a "revolving door" of former employees, and driving up prices of commodities through futures speculation. While the company has appeared on the 100 Best Companies to Work For list compiled by ''Fortune'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Riviera Holdings
Riviera Holdings Corporation is a defunct casino operator that was based in Winchester, Nevada. It owned two casinos: the Riviera on the Las Vegas Strip, closed in 2015; and the Riviera Black Hawk in Black Hawk, Colorado, sold in 2011. History Riviera Holdings Corporation was formed in 1993, after the Riviera resort on the Las Vegas Strip emerged from Chapter 11 bankruptcy. Riviera opened its second casino, in Black Hawk, Colorado, in February 2000. In June 2002, Riviera Holdings was chosen by officials in Jefferson County, Missouri, who wanted the company to construct and operate a casino approximately 60 miles south of St. Louis. In July 2002, Donald Trump purchased a 9.8-percent stake in Riviera Holdings for $2.2 million. Trump made the purchase for "investment purposes," and said that he had no plans to purchase or to operate the company's Riviera casino in Las Vegas. By that point, U.S. Trust Company of California had also purchased a 9.4-percent stake in the company. By J ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Centerbridge Partners
Centerbridge Partners is a multi-strategy private investment firm focused on leveraged buyouts and distressed securities. The firm manages over $32 billion of assetsBidding company with participation by Advent International and Centerbridge Partners announces intention to launch Bloomberg, November 23, 2021. and is based in , with an additional office in . T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy
Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor. Bankrupt is not the only legal status that an insolvent person may have, and the term ''bankruptcy'' is therefore not a synonym for insolvency. Etymology The word ''bankruptcy'' is derived from Italian ''banca rotta'', literally meaning "broken bank". The term is often described as having originated in renaissance Italy, where there allegedly existed the tradition of smashing a banker's bench if he defaulted on payment so that the public could see that the banker, the owner of the bench, was no longer in a condition to continue his business, although some dismiss this as a false etymology. History In Ancient Greece, bankruptcy did not exist. If a man owed and he could not pay, he and his wife, children or servants were forced into " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Extended Stay Hotels
Extended Stay America, Inc., headquartered in Charlotte, North Carolina, is the operator of an economy apartment hotel chain in the United States and Canada. As of December 31, 2019, the company owned and operated 557 hotel properties consisting of approximately 61,900 rooms and franchised or managed 73 hotel properties consisting of approximately 7,500 rooms. Prior to June 2021, when the company was acquired by Blackstone Real Estate and the Starwood Capital Group, it was publicly traded as a "paired share" with ESH Hospitality, Inc., a real estate investment trust and the owner of the hotels. As of 2022, there are 650+ Extended Stay America branded hotels. Extended Stay America was founded on January 9, 1995 in Fort Lauderdale, Florida by George D. Johnson, Jr. and Wayne Huizenga, both former executives from Viacom (2005–present), Viacom and its subsidiary Blockbuster LLC. The first two Extended Stay America hotels opened in August 1995 in Spartanburg, South Carolina and Mar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American City Business Journals
American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes The Business Journals, which contains local business news for 44 markets in the United States, Hemmings Motor News, Street & Smith's Sports Business Daily, and Inside Lacrosse. The company is owned by Advance Publications. The company receives revenue from display advertising and classified advertising in its weekly newspaper and online advertising on its website and from a subscription business model. The bizjournals.com website contains local business news from various cities in the United States, along with an archive that contains more than 5 million business news articles published since 1996. As of August 2021, it receives over 3.6 million readers each week. History The company was founded in 1982 by Mike Russell with the launch of the Kansas City Business Journal. In 1985, the company became a public company via an initial public offering ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Failure
A bank failure occurs when a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities. A bank usually fails economically when the market value of its assets declines to a value that is less than the market value of its liabilities. The insolvent bank either borrows from other solvent banks or sells its assets at a lower price than its market value to generate liquid money to pay its depositors on demand. The inability of the solvent banks to lend liquid money to the insolvent bank creates a bank panic among the depositors as more depositors try to take out cash deposits from the bank. As such, the bank is unable to fulfill the demands of all of its depositors on time. A bank may be taken over by the regulating government agency if its shareholders' equity are below the regulatory minimum. The failure of a bank is generally considered to be of more importance than the failure of other types of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corus Bankshares
Corus Bankshares, Inc. (, previously ) operated as the holding company for Corus Bank, N.A., a United States company that offered consumer and corporate banking products and services. Corus Bank The bank's deposit products included checking, savings, money market, and time deposit accounts. Its loan portfolio primarily comprised commercial real estate loans, including condominium construction and condominium conversion loans; commercial loans; and residential real estate loans. The bank focused its lending activities in various metropolitan areas in Florida and California, as well as in Las Vegas, New York City, and Washington, D.C. It also provides safe deposit boxes, as well as clearing, depository, and credit services to check cashing industry locations in the Chicago area and in Milwaukee, Wisconsin. As of December 31, 2006, the bank operated 11 retail banking branches in the Chicago metropolitan area. Corus Bankshares was founded in 1958 and is based in Chicago, Illinois. Coru ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PR Newswire
PR Newswire is a distributor of press releases headquartered in Chicago. The service was created in 1954 to allow companies to electronically send press releases to news organizations, using teleprinters at first. The founder, Herbert Muschel, operated the service from his house in Manhattan for approximately 15 years. The business was eventually sold to Western Union and then United Newspapers of London. In December 2015, Cision Inc. announced it would acquire the company. On January 1, 2021, Cision formally merged PR Newswire into the company, ending its status as a legal entity after 66 years. Cision plans to continue utilizing the brand name for the foreseeable future in the United States, as well as in Europe and the Asia-Pacific regions. History PR Newswire was founded in March 1954 by Herbert Muschel, who ran the business from his town house in New York City for the first 15 years of its operation. The company used telecommunications lines and teleprinters owned by Weste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Baccarat (company)
Baccarat () is a French luxury brand and manufacturer of fine crystal located in Baccarat, Meurthe-et-Moselle, France. The company owns two museums: the Musée Baccarat in Baccarat, and the Musée Baccarat in Paris on the Place des États-Unis. Groupe du Louvre was the majority shareholder of the company until 2005. The company was then acquired by Starwood Capital Group, which used the name for a luxury hotel called Baccarat Hotel New York, featuring the company's chandeliers, decorative pieces and glasses. In 2018, Fortune Fountain Capital, a Beijing-based financial group, acquired an 88.8 per cent stake of the company from Starwood Capital Group and L Catterton. On 23 December 2020, four financing funds based in Hong Kong - Tor, Sammasan, Dolphin and Corbin - took control of the capital of Fortune Fountain Limited (FFL), the holding company that held 97% of the shares of Baccarat. History 1764-1816 After the closure of the Rozières saltworks in 1760 due to a drop in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Groupe Du Louvre
Groupe du Louvre is a French company, headquartered in Village 5, La Défense in Nanterre, France. Groupe du Louvre and Louvre Hotels Group was sold to Shanghai Jin Jiang International Hotels Development Co., Ltd. in 2015. The company was owned by the American investment company Starwood Capital Group, following its earlier purchase of Société du Louvre in December 2005. The range of hotel brands was extended in 2009 with the purchase of Golden Tulip Hospitality Group. Hospitality Louvre Group owns the European hotel brands Première Classe (1 star), Campanile (2-3 stars), Kyriad (2-3 stars), Kyriad Prestige (3 stars), Tulip Inn (3 stars), Golden Tulip (4 stars), and Royal Tulip (5 stars). Since 2009, the Golden Tulip hotels were integrated into the group following their purchase of Golden Tulip Hospitality Group from administration by Starwood Capital. The luxury hotels division (previously known as Société du Louvre) can trace its origins to a company founded on 26 Marc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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